Local News
Rock Hard Loses Another Appeal
St Lucia-based cement importer Rock Hard Distribution and its local dealer
Rock Hard Distributors have suffered a second defeat in their bid to challenge the quota and licensing system for cement importation introduced in 2021.
Condor Resumes Direct Frankfurt-Tobago Flights
Tobago has resumed its direct air connection with Germany, with Condor Airlines bringing 120 passengers to the ANR Robinson International Airport on Tuesday as the airline restarted its Frankfurt service.
ANSA McAL Records Growth In Both Profit and Revenue
Revenue increased by 2% to TT$5.777 billion, while Adjusted EBITDA from continuing operations was TT$1,118 million, 2 % lower than the prior-year result of TT$1,143 million.
‘T&T Has US$2.8B In Export Potential’
Hidden within T&T’s economy is an estimated US$2.8 billion in export potential, a figure that underscores both the country’s untapped strengths and the growing urgency of diversification.
New Heritage Well Producing Above Forecast
Heritage Petroleum Company Ltd has recorded a significant offshore production success, with its latest well in the Trinmar North (TNA) acreage delivering test rates exceeding 800 barrels of oil per day, 26 per cent above its forecast initial production rate.
PriceSmart’s T&T Income Tax Payment Falls 39%
PriceSmart’s Trinidad and Tobago operation is paying substantially less in income taxes even as it becomes increasingly dependent on borrowing and cross-currency financing arrangements to obtain the US dollars it needs to sustain its import-driven business.
TTMA Eyes Trade With Venezuela
The Trinidad and Tobago Manufacturers’ Association (TTMA) is seeking to expand trade and investment opportunities with Venezuela, including access to raw materials, export markets and potential investments in the South American country.
A Shareholder Takes Share Dispute To Court
A Prestige Holdings Ltd minority shareholder has formally rejected Agostini Ltd’s offer of $12.15 per share for his remaining holdings in the restaurant management company, electing instead to have the High Court determine their fair value.
Medcorp Limited – Unaudited Interim Financial Statements For The Nine Months Ended 30th September, 2026.
Medcorp delivered strong nine-month results, with revenue up 9.7% and profit before tax up 34.7%, driven by sustained demand for its medical services, improved profitability, growing cash reserves, and a stronger balance sheet.
Regional News
Guyana, India Sign Three Agreements To Strengthen Bilateral Co-operation
President Dr Irfaan Ali and India’s Minister of External Affairs, Dr Subrahmanyam Jaishankar, have signed three bilateral agreements aimed at strengthening co-operation between Guyana and India, including initiatives to support infrastructural development, small businesses and digital payments.
World Bank Chief Urges Lower Barriers To Attract Investment
Small Island Developing States such as Barbados must reduce investment barriers, lower financing costs and create conditions that attract more private capital if they are to accelerate development, World Bank Group President Ajay Banga has said during a visit to the island.
Excelerate Signs 11-Year Bahamas LNG Deal
Excelerate Energy has secured an 11-year liquefied natural gas (LNG) supply agreement for a planned energy hub in The Bahamas, with initial deliveries expected to begin from its Jamaican operations in the first quarter of 2027.
Guyana Records Highest-Ever October Visitor Arrivals
Guyana recorded its highest-ever number of visitor arrivals for the month of October, welcoming 47,726 visitors in 2026, representing a 12.8 per cent increase over the corresponding period last year.
President Ali, Canada’s Carney Discuss Trade, Investment, Climate Co-operation
President Dr Irfaan Ali and Canadian Prime Minister Mark Carney have reaffirmed their commitment to strengthening Guyana-Canada relations, with discussions focusing on trade, investment, climate action, biodiversity conservation and development financing.
More Than US$500M Mobilised In Investment Pledges And Partnerships
More than US$500 million in investments, funding commitments and strategic partnerships were announced at the 2026 Commonwealth Heads of Government Meeting (CHOGM) in Antigua and Barbuda.
Caricom States Urged To Invest In Renewable Energy
Caricom Secretary-General Dr Carla Barnett is urging member states to accelerate investment in renewable energy and resilient infrastructure to reduce dependence on imported fuels and strengthen regional energy security.
Antigua PM Comes To The Defence
Prime Minister Gaston Browne says Antigua and Barbuda will continue to engage the United States and European Union in efforts to resolve concerns surrounding its Citizenship by Investment Programme (CBI), warning that mounting international pressures threaten the country’s economic interests and the mobility of its citizens.
President Ali Pitches One Brand For Biodiversity Reserves Across Alliance Countries
President Dr. Irfaan Ali has called on private sector leaders in Global Biodiversity Alliance countries to develop a shared brand for biodiversity reserves, pitching conservation as an opportunity for investment as well as protection.
International News
Humana Raises Full-Year Profit Forecast On Lower Medical Costs
Humana raised its annual profit forecast on Friday as it expects medical costs to remain in check during the year.
Tesla To Wind Down Cybertruck Production After YearsOf Poor Sales In Few Markets
Tesla will wind down Cybertruck production at its Texas gigafactory around mid-2027, CEO Elon Musk said on Friday, after years of persistently weak sales for a futuristic model once touted as a rival to legacy pickup trucks that ultimately only sold in just a handful of markets because of its heavy, angular design.
Copper Moves Lower As US Election Undermines AI And Tariff Trade
Copper slumped to its lowest since July as a political shakeup in Washington threatened to blunt two key bullish drivers: the rapid buildout of AI infrastructure, and the risk of US import tariffs on the metal.
US Stocks Find Some Respite As Dip Buyers Move In
The selloff in US stocks paused, with dip buyers moving in to support the bruised artificial intelligence trade after the S&P 500’s steepest drop in more than a year.
Toyota Raises Profit Projection For The Year
Japan’s top automaker Toyota reported Thursday that its fiscal second-quarter profit fell 19% from a year ago but raised its full-year profit forecast. Toyota Motor Corp.’s July-September net profit fell to 759.4 billion yen ($4.8 billion) from 932 billion yen for the same period a year ago.
Bank Of England Set To Hike Interest Rates To Tackle Higher Inflation Caused By Iran War
The Bank of England is expected to raise interest rates Thursday for the first time in more than three years in order to tackle the inflation shock caused by the Iran war.
Oil Rises As Investors Weigh Uncertainties Around Iran War
Brent crude futures (BZ=F) edged up on Thursday as investors weighed the future course of the US-Israeli war with Iran after President Donald Trump’s Republican Party suffered heavy losses in midterm elections this week.
Stock Rotation Rolls On As Chipmakers Retreat
A rotation trade fueled by the US midterm elections entered a second day, with previously unfavored markets and economically sensitive stocks outperforming at the expense of chipmakers.
Anthropic Seeks Up To $3.5 Billion In Japan For Its Mega US IPO
Anthropic PBC aims to raise up to $3.5 billion from Japanese investors in its initial public offering in the US, bringing the landmark share sale by the artificial-intelligence startup to a market starved of first-time offerings.
Reports
Portfolio Snapshot: Q3 2026
Market conditions shifted during Q3 2026 as geopolitical tensions and inflation concerns resurfaced alongside higher energy prices. Despite these pressures, U.S. equities were mostly positive during the quarter, with the S&P 500 and Nasdaq Composite gaining, while the Dow declined. Reflecting the mixed backdrop, performance increasingly diverged across sectors, largely influenced by sustained strength in oil markets, evolving rate expectations and sector-specific drivers.
Local Fixed Income Report: Q3 2026
Local Equity Report: Q3 2026
US Rate Watch SEPT2026
On September 16, 2026, the Federal Open Market Committee (FOMC) raised the federal funds target range by 25 basis points to 3.75% – 4.00%. This decision was aligned with the Federal Reserve’s dual mandate of achieving maximum employment and price stability.
Sheppard Joins the Eastern Caribbean Securities Exchange as Member Broker-Dealer
Sheppard Investment Services Limited has been admitted as a licensed member Broker-Dealer of the Eastern Caribbean Securities Exchange (ECSE), further strengthening Sheppard’s presence and capabilities within the Eastern Caribbean financial market. Based in Saint Lucia, Sheppard will now operate as one of nine licensed ECSE member Broker-Dealers serving the Eastern Caribbean Securities Market. As an ECSE Member Broker-Dealer, Sheppard is authorised to facilitate the purchase and sale of securities listed on the ECSE, providing clients with greater access to investment opportunities across the Eastern Caribbean Currency Union (ECCU). The admission represents an important step in Sheppard’s continued regional growth and its commitment to expanding access to professional investment services and financial solutions throughout the Caribbean. In announcing the ECSE’s newest members, Stewart Haynes, Chief Executive Officer of the ECSE, welcomed Sheppard to the exchange, noting that the addition of new market intermediaries strengthens the ECSE’s distribution network and supports its goal of creating a more accessible, inclusive and resilient regional capital market. The ECSE plays a central role in the development of the Eastern Caribbean capital market, providing a regulated marketplace through which investors can access securities while businesses and governments can raise capital to support growth and development. For Sheppard, membership in the ECSE creates further opportunities to connect clients with regional investment markets while supporting the continued development of the Caribbean’s financial sector. About Sheppard Investment Services Limited Sheppard Investment Services Limited provides investment and wealth management solutions to clients located in Saint Lucia and the wider Caribbean, supported by the experience and capabilities of the Sheppard Group.
Economic Outlook – AUG 2026
Global growth is expected to remain moderate but uneven across regions in 2026 as geopolitical tensions, elevated uncertainty, and tighter financial conditions weigh on activity. Trade and investment activity are also likely to remain subdued amid continued volatility and uncertainty, with economies benefitting from technology investment and those exposed to energy shocks the most impacted. Inflation is expected to remain above target for longer in many economies as higher energy and commodity prices have stalled the disinflation process. Further to this, renewed U.S.-Iran tensions have increased upside risks to inflation and downside growth risks, although continued investment and a normalization in trade activity could provide some support. We remain attentive to developments that could affect the balance of risks to the outlook.
Earnings Update – AUG 2026
August earnings remained mixed across sectors amid ongoing operational and economic challenges. Among the banking and financials First Citizens Group Financial Holdings (FCGFH) and NCB Financial Group (NCBFG) underperformed relative to their peers, reporting declines in profit for the period. First Citizens’ results were weighed down by rising funding costs, tightening liquidity conditions and the commercial asset levy, despite resilience in its core operations, while NCB’s earnings were impacted by lower gains on foreign currency and investment activities as well as the absence of one-off gains recorded the year prior. ANSA Merchant Bank Limited (AMBL), meanwhile, recorded double digit growth in profit, with pre-tax income rising 32%, driven primarily by growth in the Banking and Wealth Management segment. JMMB Group Limited’s (JMMBGL) earnings were also lifted, having benefitted from an increased share of profit from associates, namely Sagicor Financial Company.
Local Fixed Income Report – July 2026
The fixed income market in H1 2026 was characterized by shifting yield curve dynamics, resilient investor demand, and muted primary market activity. Government, quasi-government and corporate issuance remained concentrated in a relatively small number of transactions, while lower system liquidity contributed to higher yields across the curve year-on-year. Excess reserves declined to TT$4.25 billion from TT$5.33 billion at the start of the year, reflecting tighter liquidity conditions.
Local Equity Report – July 2026